Sembcorp Marine is pleased to announce that its subsidiary Jurong Shipyard has successfully delivered a second ultra-deepwater semi-submersible rig – the Ocean Valor (previously PetroRig II) - on schedule to Diamond Offshore Drilling Limited.

On 30 September 2009, Diamond Offshore Drilling Limited acquired from PetroRig II Pte Ltd the construction contract to purchase the newbuild, 7,500-foot, dynamically positioned semi-submersible offshore drilling unit PetroRig II, and renamed the Ocean Valor.

Earlier in June 2009, in an unrelated transaction, Diamond Offshore Drilling Limited, a subsidiary of Diamond Offshore Drilling, Inc. took delivery of the first sister semi-submersible drilling unit the Ocean Courage (previously PetroRig I) after winning a bid to purchase the rig from Jurong Shipyard.

Ocean Valor is the fourth of a series of 10 ultra-deepwater 6th generation semi-submersible rigs built by Jurong Shipyard based on the Friede & Goldman Ex-D Millemnium Class design. The rig is capable of drilling up to 40,000 ft whilst operating in 10,000 ft water depth.

Diamond Offshore Drilling, Inc. (NYSE: DO), provides drilling services to the energy industry and is a leader in deepwater drilling.

Jurong Shipyard, a wholly owned subsidiary of Sembcorp Marine, is a leading shipyard offering integrated services and customised solutions in ship repair, shipbuilding, ship conversion, rig building and offshore engineering to a worldwide clientele.

For media and analysts enquiries, please contact:

Ms Judy Han
Senior Vice President
Investor Relations & Communications
Tel No : 65-62627203
Fax No : 65-62610738
Email : judy@sembcorpmarine.com.sg
Website : www.sembcorpmarine.com.sg